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If your organization has yet to try Peer-to-Peer Fundraising, this year might be the time to take advantage of this tried and true strategy. Here are 5 Reasons why now may be the perfect time to implement the P2P model.
The long term impact of COVID-19 is still unknown. Though hope is on the horizon, health experts are still urging us to proceed with caution. Limited in-person gatherings in the form of hybrid events are becoming a more feasible option for many nonprofits, but you should keep expanding your range of fundraising and engagement options.
This new normal has forced many nonprofits to rethink their traditional fundraising strategies. Full-scale in-person Galas, Walks, and Auctions still aren’t on the table for most organizations, and so the time to find alternate sources of support is now.
Peer-to-Peer is perfectly suited to fill this gap while we are still taking precautions to keep everyone safe. Like the events mentioned above, P2P has the ability to engage the long-time supporters of your organization while giving them the opportunity to invite friends and family to join in their efforts. So while you’re waiting for in-person affairs to resume or thinking beyond the pandemic, you can still keep people connected to the good work of your organization and even tap into a greater network than before!
If you could be given a simple formula to set a fundraising goal and then be confident that you’d reach it, why wouldn’t you? When deployed correctly, the P2P model can accurately calculate how much money you’ll bring in at the completion of your campaign.
It’s a perfect tool to create realistic expectations around the number, size, and frequency of donations coming to your organization. You’ll need to assess the core supporters you already have, the potential ambassadors you can recruit, and the ability to tap into their networks. But at the end of the day, when you finally launch that P2P campaign, you can watch your well-developed plan come to fruition.
And in a world full of surprises, we can all appreciate a little certainty in our work, right?
P2P campaigns are, perhaps, the most effective mechanism for bringing new supporters into your organization’s fold. Why? It leverages two important fundraising principles:
P2P equips your biggest supporters to become ambassadors for your cause in their own social circles. They can approach their networks as trusted friends and cherished family members. And when they make the “ask” for support, they will have already overcome some of the most difficult barriers nonprofits face, familiarity and confidence.
The personal stories these fundraisers are able to convey are the best marketing tool you can ask for as an organization. They are as compelling as they are fruitful – both in terms of monetary donations and mission reach.
With self-quarantines, remote work, and limited social obligations, there is a lot of pent-up energy out there right now. People not only want to find ways to do good, but they actually have the time to do it! Let’s capitalize on these extra hours, and give people an impactful alternative to that latest Netflix binge.
A well-planned Peer-to-Peer campaign can give people a range of options to put as much, or as little, energy as they need into their efforts. If you have pre-designed templates for fundraising emails, social posts and thank you letters, a supporter could do as little as 10-15 mins a week of fundraising on your organization’s behalf. And, if you give them prompts on how to make their asks personal, or tools to make videos and graphics, they could put as much time and creativity as they have into it – making a real difference in their community. You want to empower people to “own” their campaign if they have the bandwidth to do so. The results can be a remarkable windfall for the incredible work your nonprofit does everyday.
Peer-to-Peer asks you to put the bulk of your work upfront but guarantees great payoffs. If you build the framework and create a well thought-out communications roadmap, when your campaign is ready to be deployed, you will just have to “push play.”
Of course, this requires calculating a realistic fundraising goal, designing easy-to-use templates and planning thoughtful (virtual) launch and wrap-up events. But unlike traditional events, there will be no last minute changes or day-of surprises. You won’t have to anticipate anything except the money flowing in. And that sounds easy-peasy, doesn’t it?
This post was written by Chris Hammond, CEO and Founder of Corporate Giving Connection (CGC). CGC is a full service development, marketing, and corporate social responsibility consulting firm that focuses on strategic planning and implementation for nonprofit organizations and corporations. Chris has 11+ years of event management and 9+ years of nonprofit fundraising consulting & leadership experience. He holds a BA in Political Science and an MA in Public Policy and Administration from California Lutheran University.